223 Financial Institutions Target Over 1,300 Companies With Disclosure on Climate Change, Water Security, and Deforestation Risks in 2025
54% increase in water-related disclosures requested in 2025
Companies in North America, Asia Pacific and Europe see highest numbers of requests
18 July 2025, London: As part of its annual financial institution-led Non-Disclosure Campaign (NDC), CDP has mobilised 223 global financial institutions to engage companies on environmental transparency. Together, these institutions represent nearly $23 trillion in assets and have called on more than 1,300 of the world’s highest-impact companies, with a combined market capitalisation of approximately $12 trillion, to disclose environmental data through CDP.
CDP operates the world’s only independent, global environmental disclosure system, helping drive accountability and informed decision-making across markets.
CDP analysis shows that financial institutions are leveraging their influence to drive transparency and accountability, making companies 2.5 times more likely to disclose their environmental impacts.
The focus for the 2025 NDC – where companies that have previously been requested to disclose to CDP but failed to do so are again requested to do so by financial institutions – remains on climate, water and forests impacts, which are key components in addressing biodiversity loss and driving emissions reductions across global supply chains. This year, 919 companies are being targeted on climate, 711 on water (marking a 54% increase from 2024), and 307 on forests.
Additionally, companies across a broad range of high-impact sectors have been engaged globally, with the highest number located in North America (429), followed by Asia Pacific (396) and Europe (339)
By engaging businesses across a diverse range of high-impact sectors, these financial institutions are helping companies align with global sustainability goals. As pressure mounts from investors, policymakers, and consumers, businesses are increasingly being held accountable to integrate environmental risks into their core strategies, with a focus on long-term sustainability.
Since CDP’s 2025 disclosure window opened last month, over 70,000 companies have already been requested to disclose their environmental impacts. These requests have come from a range of stakeholders, including customers, investors and supply chain partners. This demand for transparency reflects the increasing importance of environmental data in assessing business resilience, regulatory readiness and long-term value creation.
“Environmental risk is financial risk. In an increasingly volatile world, it poses one of the greatest threats to economic stability,” said Kari Stoever, CDP Chief Growth Officer.
“Transparent data on climate, water and forests—shared through disclosure—is essential for understanding these risks and converting them into opportunities rather than losses.”
“The economic case is clear. In uncertain times, disclosure provides the actionable insight needed to guide better decisions, strengthen business models and deliver positive impact across the entire value chain.”
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Notes to the editor
The Non-Disclosure Campaign (NDC) is a collaborative initiative that directly involves CDP’s capital markets signatories. The campaign targets companies that have previously failed to respond to CDP’s disclosure requests on climate change, forests, and/or water security.
The goal of the campaign is for CDP to forge a direct, honest dialogue between active stakeholders and these non-responding companies, allowing financial institutions (FIs) the ability to urge them to disclose for the first time and explain why it is so important.